Dogecoin Whales Eye $0.08 Target as Accumulation Picks Up
Dogecoin (DOGE) whales have been quietly accumulating tokens during the latest market drawdown, supporting a 1.69% rebound to $0.0708.
According to Santiment data, wallets holding between 10 million and 100 million DOGE added about 180 million tokens, increasing their share of supply from 11.85% to 11.97%. This is still below the cohort's late-July holdings, but points to renewed accumulation.
The increase in whale buying has also been reflected in derivatives positioning, with CoinGlass showing open interest near $1.17 billion and a mostly positive OI-weighted funding rate since July.
Despite this, DOGE remains below its 200-day moving average at $0.0915, and the broader trend remains weak. If $0.074 breaks, bulls could target $0.08, while a loss of $0.0676 would weaken the rebound and reopen a test of recent lows.